Hess Corporation (NYSE: HES) is an oil and gas company that extracts oil and gas through drilling and processes it into a variety of products, including gasoline, lubricants and heating oil. The company sells its products to other distributors and directly to consumers through its own gas stations.

Rapid growth in energy demand in emerging economies like China and India coupled with limited oil supply have placed significant upward pressure on oil prices in recent years. As oil prices have risen, more difficult ways of extracting oil (such as deep sea drilling and oil sands) have become economically feasible. Hess’s focus on deep-water projects positions the company to be a leader in this critical transition period. Hess has also benefited from the critical shortage of refining capacity within the U.S. where strict environmental regulations have prevented the construction of new refineries since 1976.

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